Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search

 

MARKET CLOSE: NZ shares rise for 2nd day

MARKET CLOSE: NZ shares rise for 2nd day; Wrightson gains

Dec. 29 – New Zealand shares rose in light trading, pushing the NZX 50 Index up for a second day, with PGG Wrightson surging 12% and rest-home operator Metlifecare extending its slide.

The NZX 50 rose 9.583, or 0.4%, to 2677.64. Within the index, 21 stocks gained, 11 fell and 18 were unchanged. About 11.6 million shares changed hands. Wrightson, which has tumbled 32% in the past month, gained 13 cents to NZ$1.19.

Metlifecare fell 9% to NZ$2.54, extending its slide since announcing last week that was suspending its dividend and seeking to raise as much as NZ$40 million by selling new shares to shore up its capital. It was at NZ$3 before the announcement.

Fletcher Building led the index lower, sliding 3.5% to NZ$5.60, its third daily decline after figures showed the biggest drop in U.S. home sales for 21 years.

Air New Zealand fell 2.3% to 86 cents and Sky Network Television fell 1.3% to NZ$3.85.

Among gainers, carpet maker Cavalier Corp. rose 4.9% to NZ$1.73 and children’s clothing chain Pumpkin Patch rose 4% to NZ$1.04.

In Sydney, the S&P/ASX 200 Index rose 1.1% to 3621.1. Woodside Petroleum rose 5.7% after the price of oil advanced. Babcock & Brown Infrastructure fell 4.5% to 8.5 cents.

(Businesswire)

ENDS

© Scoop Media

 
 
 
 
 
Top Scoops Headlines

 

Any Questions: Scoop Launches New Q&A Website

It’s an easy way to find out party positions and allows you to view candidates’ answers side by side. It’s also a way for you to make your voice heard this election, and get the parties talking about the things that are important to you. More>>

ALSO:

Binoy Kampmark: Trump And Afghanistan

Donald Trump did what US Presidents have done since George W. Bush: commit. Commit, that is, to the mission; commit more promises; and commit more thoughts to blotted paper about the war that never ends in the graveyard of empires. More>>

ALSO:

Rawiri Taonui: The Maori Election

The election battle for the Maori seats 2017 opened last year when Maori Party President Tuku Morgan announced a peace deal with the Mana Movement aimed at securing all the Maori seats and holding the balance of power. More>>

Scoop HiveMind Project: Universal Basic Income - Are We Up For It?

This is an opportunity for you as one of the 4 million potential funders and recipients of a Universal Basic Income to collectively consider the issue:
1. Is UBI is a desirable policy for New Zealand; and
2. How should a UBI system work in practice. More>>

ALSO:

Lyndon Hood: National Announces Plan To Hit Youth With Big Mallets

The National party has announced its youth justice policy, which includes a controversial plan for recidivist serious youth offenders to be hit over the head with a comically large rubber mallet. More>>

ALSO: